People are the #1 factor in the success of any organization. It’s not easy to manage talent and develop talent effectively.
The McKinsey 9-Box Model can be used to evaluate your talent in a matrix charted on the axes of “Potential vs. Performance”. It is sometimes used as a tool for performance appraisals and performance management. It also helps companies assess their talent and performance more objectively. It can also help determine which employees to promote, which to continue to develop and which ones may not be a fit at the company.
As an executive manager, you should have a Talent Plan and invest in the 4 top-right categories – Star, Growth Employee, Core Employee and High Impact Contributor. This plan would include more coaching, development, training, mentoring as well as promotion plan, compensation, retention planning, etc. This is the visual illustration of the model – its source is from the blog post written by Tom Tunguz:
Image Source: https://tomtunguz.com/nine-box-matrix-hr/
What else? What are your experiences using the 9 Box Model for Talent Management?